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Search ResultsShowing 1 - 10 of 100+ results for "CBA"
CBA guilty of deceptive conduct
ELIZA BAVIN  |  WEDNESDAY, 17 FEB 2021
... Australia made false or misleading statements and engaged in deceptive conduct on over 12,000 occasions. Justice Lee found that CBA breached financial services law 12,119 times when charging a rate of interest on business overdraft accounts substantially ...
Banks return $1.2bn for bad advice
ELIZA BAVIN  |  FRIDAY, 12 FEB 2021
... returned to customers who suffered loss or detriment due to fees for no service misconduct or non-compliant advice. AMP , ANZ, CBA , Macquarie, NAB and Westpac undertook the review and remediation programs to compensate affected customers as a result ...
CBA slashes profits, boosts dividends
KARREN VERGARA  |  WEDNESDAY, 10 FEB 2021
... 2020 half-year results show the bank's net-profit after tax dipped 21% to $4.9 billion on the prior corresponding period. CBA chief executive Matt Comyn blamed the pressures of COVID-19, particularly the effects of loan impairments and higher expenses ...
Former UBS GAM executive joins CBA incubator
KARREN VERGARA  |  THURSDAY, 28 JAN 2021
Commonwealth Bank has hired a former UBS Global Asset Management and Financial Services Council executive to chair its fintech incubator business. Ben Heap was appointed non-executive, independent chair of x15ventures, which helps scale startups by ...
AIA progresses with acquisition
ANNABELLE DICKSON  |  TUESDAY, 19 JAN 2021
... Federal Court of Australia's consideration of the scheme at a hearing in March 2021. In September last year , Commonwealth Bank (CBA) received a payment of approximately $450 million for the sale of CommInsure Life. The payment followed a $500 million ...
Northern Trust wins First Sentier mandate
KANIKA SOOD  |  WEDNESDAY, 6 JAN 2021
... services, after it separated from Commonwealth Bank. First Sentier Investors' middle-office functions were handled by CBA subsidiary Colonial First State Investments Limited (CFSIL), as it transitioned to a new ownership. The appointment comes after ...
Challenger to buy industry-fund-owned bank
KANIKA SOOD  |  WEDNESDAY, 23 DEC 2020
... specialised loan products such as reverse mortgages. "CGF's current one-year term annuity rate is 1.04%. This compares to CBA's current one-year term deposit rate of 0.55%, so we anticipate demand could be high..." "When an adviser sells a term deposit ...
Cashwerkz appoints chair for Fund Income
KANIKA SOOD  |  THURSDAY, 17 DEC 2020
... Management . Coad has 30 years of experience in markets and intuitional banking, including senior executive roles at NAB, CBA and Chase Manhattan Bank. In early November, former UBS fund manager Chris Baylis, billionaire investor Alex Waislitz and ASX-listed ...
ASIC unveils school banking program review
KARREN VERGARA  |  WEDNESDAY, 16 DEC 2020
... banking market, attracting 3629 schools with 175,138 active accounts. Bendigo Bank comes second place with 146 schools. In FY18, CBA paid schools $2.5 million to participate in its programs. This figure dropped to $2.1 million and $1.3 million in subsequent ...
Aussie, Lendi to merge
ELIZABETH MCARTHUR  |  WEDNESDAY, 16 DEC 2020
... boosting distribution. Lendi shareholders will hold the majority shareholding of 55% in the merged business while Aussie's owner, CBA, will hold 45% and continue to provide funding for the Aussie Select branded home loan product. "The merger is another ...
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